MTN Ghana Finalizes Spinoff of Mobile Money into Independent Fintech Entity

In a landmark move for West Africa’s digital economy, Scancom PLC (MTN Ghana) has announced the successful completion of the structural separation of its mobile money business. As of March 31, 2026, the company’s financial services have been transitioned into a standalone entity, MobileMoney Fintech Ltd (MMFL).

The transition follows a statutory merger between the former subsidiary, Mobile Money Ltd, and the newly created MMFL. This strategic restructuring marks a key milestone in MTN’s "Ambition 2025" strategy, which aims to position fintech as a primary growth engine for the group.

Regulatory Compliance and Innovation The separation is primarily driven by Ghana’s Payment Systems and Services Act (2019), which requires telecommunications providers to ring-fence their financial services from their core mobile operations. Beyond compliance, the new structure allows MMFL to operate with its own governance and reporting lines, providing the flexibility needed to compete in the rapidly evolving fintech space.

“The structural separation positions us to expand our fintech ambitions while continuing to invest in Ghana’s digital future,” said Stephen Blewett, CEO of MTN Ghana. “This milestone reflects our commitment to driving innovation and delivering services that improve the lives of our customers.”

A Multi-Billion Cedi Growth Engine The spinoff comes at a time of record growth for MTN’s fintech services. In 2025, mobile money revenue surged by over 35% to 6 billion cedis, accounting for roughly a quarter of the company’s total service revenue. With more than 19 million active users, the new entity is poised to move beyond basic peer-to-peer transfers into advanced "fintech 2.0" services, including:

• Micro-lending and insurance products.

• Expanded merchant payment infrastructure.

• Cross-border digital remittances.

Investment and Future Outlook While MTN Ghana (Scancom PLC) will continue to focus on its core telecommunications and data services, the creation of MMFL allows the fintech business to be valued separately. This is expected to attract specialized fintech investors and serves as a blueprint for MTN Group as it explores similar separations in other major markets, including Nigeria and Uganda.

For existing customers, the transition will be seamless. All mobile money services, wallets, and agent networks remain fully operational under the new corporate structure, with no changes to the user experience or shareholding structure of Scancom PLC.

SOURCE: AGENCIES